Notices to Members

Notice of Annual Meeting and Notice of Nominated Individuals to NFA’s Board of Directors and 2003 Nominating Committee

The annual meeting of NFA Members will be held on Thursday, February 20, 2003 at National Futures Association, 200 West Madison Street, Suite 1600, Chicago, Illinois, and will begin at 12:00 noon (Central Time). Under Bylaw 405, one hundred Members constitute a quorum. In the absence of a quorum, the Members in attendance may act to adjourn the meeting.

On November 8, 2002, NFA notified its Members of the nominations made by the 2002 Nominating Committee for positions on NFA’s Board of Directors (“the Board”) and 2003 Nominating Committee. At that time, Members were also given the opportunity to make other nominations by petition, in accordance with Article VII, Section 3(b) and Article X, Section 3 of NFA’s Articles of Incorporation.

NFA Bylaw 406 states that “promptly after the expiration of the period within which petitions may be submitted, the Secretary shall notify the Members of all of the candidates for Director and member of the Nominating Committee.” In accordance with Bylaw 406, this Notice will serve as notification of the candidates for the Board and 2003 Nominating Committee. No candidates were added via petition.

NFA Bylaw 406 also states that “in the event of a contested election, the Secretary shall cause written ballots to be sent to all Members in that category (i.e., FCM and LTM, IB, CPO or CTA) by December 15.” Since there are no contested elections, no ballots shall be sent in the FCM, IB, CPO or CTA categories. These categories will be represented on the Board and the 2003 Nominating Committee by the individuals indicated on the enclosed list.

If you have any questions, please contact NFA’s Vice President and General Counsel, Thomas W. Sexton, at (312) 781-1413.

National Futures Association

Individuals serving an additional two-year term on the Board of Directors and a complete list of
the 2003 Nominating Committee: